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20121201
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on, pressure on the price of oil, indisexposeble incomes and henry joins us now. 2013, what does pressure on the price of oil mean? >> downward, i think. i think what we see is some significant nonopec finds. we see falling u.s. demand, rising supply. we see miles driven. there's technology at play. probably the biggest thing that could happen to the auto industry and we can come on to that. that's only a few years out. the message from the futures market that we're get sg oil should be some $10 to $15 lower. if we were to get $10 off the oil price, it broadly equate toes about 1% gdp surprising the western world. it's that time of year where we're pending our thoughts to next year. tangible, economic prices to next year. it will be oil related, a chance, good job with raising the tax threshold in the uk. that means for the first year in five. uk link will be up, not down. and them i also think thattory thing our chancellor did a good job of was she raised taxes by 10 so companies can invest a 215 pounds, not just 200 pounds. >> that's a leverage the other governments have been t
would continue to grow, housing would continue to improve, but what's been holding us back is the dysfunction here in washington. and if, you know, people start seeing that on january 1st this problem still hasn't been solved, that we haven't seen the deficit reduction that we could have had had the republicans been willing to take the deal that i gave them, if they say that people's taxes have gone up, which means consumer spending is going to be depressed, then, obviously, that's going to have an adverse reaction in the markets. >> what about automatic spending cuts? those take effect january 1st, as well. do they have to be part of this deal? you've got half of those cuts in defense law? >> well, congress agreed they would cut an additional $1.2 trillion in spending. they put a committee together to try to come up with those numbers. they didn't figure out how to do it. so what we now have is a situation where these automatic spending cuts go into place. now, if we have raised some revenue by the wealthy paying a little bit more, that would be sufficient to turn off what
in the u.s. which seems to be stabilizing, looking this also at the housing market. so business sentiment better than expected. it is rising. the current conditions a little weaker than expected. add to that the financial analyst numbers we had as of late, also better than expected. not too bad. >> patricia, we'll see you again next hour. thank you very much for following all the latest there. >> sure. >>> now, shares in ubs have edged up in early trade after the bank announced a major settlement with u.s., u.k., and swiss regulators over its role in the libor fixing scandal. with more we'll look at the story with carolyn roth with us on set. i guess we're expecting a settlement, expecting something big. what have we learned today? >> well, first of all, i mean, the market reaction -- ubs up by 1%, can you believe that? what barclays was hit with $450 million fine, i mean, we saw a big hit in barclays' share price. this fine is three time the amount that barclays was fined. $1.5 billion or $1.4 billion swiss>>frank: francs. this is on the libor manipulation charges. ubs must pay swiss reg
statement to parliament today. will be out in westminster soon. steve is out to give us more detailed analysis of what to expect. let's just go back to the eurozone. as you say, thin advances here. are we capping -- it's up against the yen as well. there's obviously been a big yen story. >> yeah, i think the euro/yen has had perhaps more to do with eu euro/dollar than anything else. the euro crosses in general have been story rather than euro/dollar and euro/yen at the forefront. i think the euro/yen forecast is overplayed in what japan will ultimately deliver on. but mum is pretty good. i think you still play for a little yen weakness. i think we'll see a lot of people trying to buy yen back because i don't think we'll get delivery in all these preelection promises. >> do we all think we know what the chancellor is going to say? >> judging by the many pages being given to it in the newspapers, you feel like what else can he say? it's not going to be a day where you'll buy sterling aggressively because most of the news is going to be bad. we're going to have lower growth. potentially
the sazian session? only one lady to tell us. >> thank you, ross. asian markets ended mix. japan's bourses outperformed the region. despite a slight improvement in november corporate sentiment showed weakness. knee sap finished lower as they planned to recall nearly 50,000 cars in japan. shanghai composite pulled back after yesterday's 3% surge. investors booked profit. property developments seemed to have legs. the hang sent also ended marginally in the red. hsbc came under pressure after reports say it may pay a $1.8 billion fine over the money dering scandal. in australia, strong jobs data failed to boost the market. the asx 200 finished lower by a quarter percent. sensex still in action now trading lower by 0.4%. back to you. >> all right. catch you later. apple had its worst day in four years dragging down the nasdaq. different story for the dow. at one point dow was up more than 100 points. the last time the index closed up triple dinlg et gains, the way back in may two 2. joining us for the first part of the program, nick khar. thanks for joining us. xetra dax up 52 week highs. whic
Search Results 0 to 4 of about 5

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